Cathie Wood Just Snapped Up This Nvidia Cloud Play — Here's Everything Else Ark Traded Monday

Benzinga03-31 10:53

On Monday, Ark Invest, led by Cathie Wood, made significant trades, notably acquiring shares of CoreWeave Inc. This purchase aligns with Ark’s strategy of investing in innovative technology companies. CoreWeave, a cloud platform built on NVIDIA’s infrastructure, has been a focal point for investors, especially after NVIDIA’s substantial investment in the company earlier this year.

The CoreWeave Trade

Ark Invest’s flagship fund, ARK Innovation ETF, purchased 41,830 shares of CoreWeave on Monday. With the stock closing at $69.15, this acquisition is valued at approximately $2.89 million.

CoreWeave has been in the spotlight due to its collaboration with NVIDIA Corp, which invested $2 billion in CoreWeave’s Class A common stock. This partnership aims to develop AI factories using NVIDIA’s accelerated computing platform, enhancing CoreWeave’s growth strategy.

Despite recent fluctuations, CoreWeave’s stock has risen over 22% year-to-date. However, it trails behind competitors like Nebius, which has seen a 37% increase.

Analysts have noted that CoreWeave’s reliance on a few hyperscaler contracts is crucial for maintaining investor interest.

Other Key Trades

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